Recently I started getting HOME magazine (it was only $5 for a years subscription) and was rather disappointed with last month's issue; basically it felt like the 'home' part of 'better homes and gardens'. However, this past issue was pretty fantastic. As I live in a studio, I'm always fascinated by articles about small-space living and the August issue of HOME had this great apt. of Chris Menrad from NYC. 
I think the issue with studios is making them feel like a home and a great place for guests without it feeling like a bedroom or college dorm room. I think Chris has dealt with this very successfully. Here is another angle of the living room so you can get an idea of the main space (14'x19'). There is room for a bed area, dining area, office area and main seating area. Now who needs a whole house when it all fits so nicely here! It helps that he doesn't seem to have a lot of 'stuff'.
The bed is probably the most interesting feature to me. While it is a murphy bed (which I detest) I love that he put it sideways (queen sized mattress). The storage above is a good idea as well. I think with the cushions along the back wall it almost looks like a daybed. I would have not done the murphy mechanism and put storage under the bed as it is shown here. Every square inch is used, as shown here by the cubbies alongside the bed below. (hey, you need someplace for your china collection!)
The kitchen has been stylishly but modestly laid out. There is only an under-counter fridge and the stove is efficiency width. Shelving instead of cabinets were used to make the kitchen feel larger.
The bathroom has been completely redone but keeps the vintage styling. I love that sink! Pedestals make a bathroom feel larger and more spacious than a vanity. Interesting shower curtain too. I love a white bathroom with black accents!All images from the article in HOME magazine.